Bridging the Financing Gap: LeadIT and CIF’s Global Dialogue on a Just Transition at CEM14/MI-8 in Goa.

23 July 2023

On July 22nd, LeadIT co-hosted an official side event titled “Financing Industry Decarbonisation for Just Transition” at the 14th Clean Industry Ministerial and the 8th Mission Innovation (MI-8) in Goa, India, in collaboration with The Climate Investment Funds (CIF) and the Industrial Deep Decarbonisation Initiative (IDDI).

The side event brought together representatives from government, industry, and multilateral development banks to explore how to narrow the financing gap for deep decarbonization efforts in hard-to-abate sectors with a focus on the global south. The discussion, moderated by the Financial Times, featured representatives from the UK, Brazil, UNIDO, the International Finance Corporation (IFC), JWS Steel, Moller-Maersk, Volvo, UltraTech Cement Ltd. (an Aditya Birla Group Company), CIF, and LeadIT.

To underscore the complexity of the task at hand and the genuine partnerships needed to achieve global goals LeadIT demonstrated how it brought together stakeholders from across the entire value chain (e.g., shipping, steel containers, construction, and multilateral finance). LeadIT also presented its vision for technology co-development, which garnered significant appreciation from Global South partners. What resonated most with the CEM audience was the clear linkages made by LeadIT on roadmapping for deep decarbonization and financing streams enabling the same.

Leadership was demonstrated by LeadIT members at the event from India who represented the steel and cement sectors from both industry and government, forging strategic partnerships as well as committing resources and setting targets to achieve ambitious goals.

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